Reshaping Business For Ultimate Growth

Dubai VAT

UAE / GCC VAT IMPLEMENTATION TRAINING COURSE OUTLINE

VAT implementation training program is designed to provide a comprehensive outlook at VAT and its implications to the businesses in UAE and its impact on stakeholders outside of UAE also. This program will take you through step by step process for VAT implementation. The course will provide a comprehensive understanding of the VAT system, from the compliance aspects of registration, record keeping requirements, returns and payment obligations and VAT inspections to the practical considerations of how VAT will affect the organization, the strategic decision making required, as well as the fundamentals of accounting for VAT in the accounting system.

Course Outline:

VAT CONCEPT

• Concept of VAT
• Motive for VAT
• Input VAT
• Output VAT
• Supplies
• Goods
• Services

VAT AND UAE

• Reason behind VAT implementation in UAE
• Impact of VAT on UAE Economy
• Impact of VAT on the Businesses
• Why VAT in UAE is different than rest of the world
• Gulf VAT Framework

VAT REGISTRATION

• Rules for VAT registration
• Rules for VAT De-registration

VAT CALCULATION

• When should VAT be accounted for?
• Calculating Input VAT (Sales, Services and Gifts)
• Calculating Output VAT (Purchases)
• Short case study Case study for the VAT calculation

VAT ADMINISTRATION

• Filing VAT returns
• VAT Schemes
• Timing for VAT Filing
• Substantial traders
• Claim for VAT Refunds

OF SUPPLIES

• Taxable Supplies
• Reduce rated Supplies
• Zero rated Supplies
• Exempt Supplies

VAT PENALTIES

• Late submission penalties
• Late payment penalties
• Error and penalties
• Default interest rate

VAT ON IMPORTS/EXPORTS

• Calculating output VAT on Imports from the member countries and non-member countries
• Calculating input VAT on Export to member and non-member countries

VAT INVOICES AND RECORD KEEPING

• Layout of the VAT Invoice
• Charging VAT on Invoice price
• VAT invoices Record Keeping

VAT ERRORS

• Pre-registration input VAT Calculation
• Relief Calculation
• Valuation of Supplies

Course Duration: One Month

Class Timing: weekend classes

Course Fee: Rs 15,000/-